flypop has signed a multiple aircraft A330-300 lease deal with Avolon, the world’s third largest aircraft lessor.
Based in Ireland, Avolon provides lease and lease management services to airlines and airlines investors globally. After holding discussions with a number of leasing companies over the past few months, the flypop team decided to select Avolon as the company offered the most competitive rate and a pipeline of aircraft into 2023.
“As a twin-engine double-aisle wide-body that can carry over 400 passengers, the A330-300 aircraft will deliver everything we want to offer our flypop passengers, especially the lowest seat prices to India,” said (Nino) Navdip Singh Judge, CEO & Principal of flypop. “With this lease deal, we have been able to submit our AOC license application to the UK Civil Aviation Authority and expect our first flights to commence by October. And many thanks to the UK Government’s Future Fund for its financial assistance, which has enabled us to raise further funding. Increased flight connectivity, especially on new routes, will create much needed economic benefits for both the UK and India.”
“We look forward to working with flypop on its exciting imminent launch of flights between the UK and India,” said Martyn Lewis, Senior VP – Marketing (Europe, Middle East & Africa) at Avolon. ” We will work with flypop on its future growth strategy and expansion of routes and provide further aircraft as required. At launch, flypop will commence operations with one aircraft and plans to add an extra aircraft every six months.”
Throughout the pandemic, flypop has been busy preparing for launch later this year, when international travel resumes to India.
“The incumbents have been badly wounded after 18 months without any revenue but plenty of costs and debt,” said Charlie Clifton, ex Director of Ryanair, who has joined flypop as Senior Operations Adviser and Board Member. “flypop, on the other hand has avoided any exposure to the pandemic and consequently is in the unique and fortunate position to extract maximum advantage from the lower costs resulting from the crisis. flypop’s cost of entry is much lower now than it would have been pre-Covid-19. Low fares always stimulate greater demand. The sector is currently on the floor, but the market will return strongly.”
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